New Zealand Stocks Start October Lower

The NZX 50 fell 54 points, or 0.4%, to 13,781 in Thursday morning trade, after gaining in the previous session, tracking a decline on Wall Street overnight as a softer-than-expected inflation rate was offset by rising oil prices. Traders continued to monitor the Middle East conflict, as rising oil prices raised concerns over inflation expectations. Wednesday's data pressured sentiment, as New Zealand's business confidence fell to a three-month low. Traders also anticipated US jobs data later this week for clues about the Fed's monetary policy decision at its upcoming meeting. Fresh data limited the fall, as New Zealand building permits rose at the fastest pace in four months in August. Almost all sectors traded in the red, with utilities leading the decline, followed by communication services, real estate, and financials. Among early losers were Meridian Energy (-1.7%), Hallenstein Glasson (-1.5%), Ebos Group (-1.3%), Fletcher Building (-0.9%), and Mainfreight (-0.6%).

The NZX 50 climbed 151 points, or 1.1%, to close at 13,813 on Wednesday, halting losses in the previous session and moving away from its lowest level since September 16, which it touched a day earlier. All sectors traded in the green, with consumer discretionary leading the gains, followed by communication services, technology, and financials. Easing oil prices fueled sentiment as concerns over inflation eased. However, traders shrugged off fresh data showing New Zealand's business confidence fell to a three-month low, though it remained in positive territory. A downbeat session on Wall Street overnight also limited the gain due to a surge in US Treasury yields. Hallenstein Glasson continued to surge (5.4%) after posting a 49.9% jump in net profit for the year ended August 1, 2026. Other top gainers were Delegat Group (3.3%), Summerset Group (3.3%), Channel Infrastructure (3.2%), and Chorus (2.6%). For the quarter, the index rose 1.4% in Q3, after falling in the prior quarter.

The NZX 50 rose 17 points, or 0.1%, to 13,700 in Wednesday morning trade, after retreating in the previous session and moving away from its lowest level since September 16, which it touched a day earlier. The index was mainly buoyed by consumer discretionary, consumer staples, and materials. However, declines in energy and real estate capped the gain. Traders were cautious ahead of New Zealand's business confidence for September and China's PMI data later today for clues about the performance of the private sector in New Zealand's top trading partner. Traders also continued to assess the Pre-election Economic and Fiscal Update ahead of the general election, which will be held on November 7. In the US, Wall Street closed in the red due to a surge in US Treasury yields. Among the early gainers were Delegat Group (3.8%), A2 Milk (1.6%), Sanford (1.5%), Port of Tauranga (1.5%), Chorus (1.1%), and Ventia Services Group (0.9%). However, the index is heading for a 0.6% quarterly gain